11.1805 Exemption of Foreign Sales Corporations from withholding taxes.

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A corporation which is a Qualifying American Samoa Foreign Sales Corporation(within the meaning of 11.1807) is exempt from the obligation imposed by sections 1441 and 1442 of the Samoan Income Tax Act to withhold the tax imposed by sections 871(a) and 881 of the Samoan Income Tax Act on items of income of United States citizens and residents, or corporations organized under the law of any state of the United States, which are shareholders of the FSC.

History: 1984, PL 18-54